S&P gives China Cinda note programs A-, BBB+

Standard & Poor's said it assigned its A- long-term rating and cnAA long-term Greater China regional scale rating to a medium-term note program by China Cinda Finance (2015) II Ltd. that China Cinda Asset Management Co. Ltd. (China Cinda: A-/stable/A-2; cnAA/cnA-1) guarantees under an onshore guarantee structure.

The agency also assigned its BBB+ long-term ratings and cnA+ long-term Greater China regional scale ratings to the medium-term note program by China Cinda Finance (2015) I Ltd. that China Cinda (HK) Holdings Co. Ltd. (BBB+/stable/A-2; cnA+/cnA-1) guarantees under an offshore guarantee structure, and the first drawdown of dollar-denominated benchmark size fixed-rate notes under this structure.

The total note program size is $3 billion and is shared between the onshore and offshore guarantee structures. Both issuers are special purpose vehicles ultimately wholly owned by China Cinda.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.